Сredit Card with Bitcoin Rewards Is to Become a Reality Very Soon

This week, BlockFi, a crypto lending company, announced the upcoming release of its rather unusual credit card – the Bitcoin Rewards Credit Card. The card will become the first-ever credit card with cryptocurrency rewards.
Until now, credit cards’ rewards programs could offer cashback, points, or miles. But earning credit card rewards in the form of bitcoin is something new. Still, cryptocurrency cannot be called a completely new form of card rewards. There are several prepaid debit cards that offer such rewards programs.
It is known that the Bitcoin Rewards card will be issued by Evolve Bank & Trust on the Visa network. Approved applicants can earn 1.5% cash back on all purchases that will automatically be converted to bitcoin and placed into a BlockFi account every month. The accumulated bitcoin then may earn interest, be traded, used as collateral toward a crypto-backed loan, or withdrawn.
The card is expected to come with a sign-up bonus of $250 in bitcoin. To get this offer, cardholders will need to spend $3,000 with the card within the first three months from account opening.
As for the Bitcoin Rewards Credit Card’s rates and fees, the only thing that has already been disclosed is the amount of the annual fee. It will be equal to $200.
The card should be issued in spring 2021. It will be available to US residents with the exception of New Yorkers. Such a decision is conditioned by regulatory restrictions of the state. At the moment, it is already possible to join the waitlist at the official website. However, until January, this option is only available to current BlockFi customers with funded BlockFi Interest Accounts.
Latest Credit Card Rewards News

2020 can be safely called the weirdest year of the last decade. The pandemic has affected every corner of the world. And we can only guess what surprises await us in the last month of the year. However, something still remains the same (or almost the same) – Black Friday. It is not hard to […]

This week marked the launch of another credit card. This time we are talking about the new cash back credit card from Venmo, a mobile payment service owned by PayPal. The card got a very simple name – Venmo Credit Card. The company announced its plans to roll out its first credit card a year […]

Starting July 1, holders of Chase Freedom® credit cards can earn 5% cash back for purchases in special Q3 2020 bonus categories. The new quarter favors eligible Chase customers with enhanced rewards on Whole Foods Market and Amazon.com purchases. Chase states that all Whole Foods Market purchases made before October 1 will qualify for 5% […]

The coronavirus pandemic has affected everyone. Many people were to remain without earnings. To support people, many banks have developed relief programs and offer customers, for example, defer payments, temporarily reduce interest, increase credit limits, etc. American Express don’t stand aside either. But in addition to the Financial Hardship Program, the issuer also decided to […]

Capital One keeps adding new rewards redemption options to its travel credit cards. To be more precise, holders of Venture and Spark credit cards can now transfer accumulated miles to even more loyalty programs. Surprisingly, new transfer partners are not airlines, as it could be expected, but large hotel chains AccorHotels and Wyndham Hotels & […]